Medication management startup Hero launches with $12M in funding

The startup’s product, which is also called Hero, sorts and dispenses medication, automates refills and offers audible and digital reminders.

(Update: This article previously discussed Hero’s old pricing model, which was $19.95 per month for two years [and $9.99 per month thereafter] or $299 plus a yearlong pre-paid subscription [valued at $120]. As of late November 2018, the company has updated its pricing model. The new cost is reflected below.)

New York City-based Hero, a startup aimed at solving medication management and adherence, has launched in the United States.

Its core product, also called Hero, sorts and dispenses medication, automates refills and has audible and digital reminders.

The product includes a countertop device that stores, dispenses, tracks and orders medication refills. The Hero app for iOS and Android manages a patient’s medication regimens, sends notifications to caregivers regarding doses and tracks adherence over time. The company also has a product fill service option, which prompts the delivery of prescriptions, over-the-counter medications and supplements to the patient’s home without an added delivery charge.

Hero is available for consumer purchase for as low as $33 per month for 12 months or for $399.00, including a one-year pre-paid subscription.

In addition to its launch, the New York City startup has closed a $12 million Series A round. Investors included Naval Ravikant, Brainchild Holdings, Box Group, Refactor Capital, Third Kind Venture Capital,  Spider Capital, Stewart ButterfieldAlan PatricofDavid SternJen Rubio and Brad Fluegel, among others.

Via email, Hero founder and CEO Kal Vepuri said the funding will be used to help educate unpaid and informal caregivers across the country. “In addition, it will allow Hero to forge seminal partnerships with key stakeholder organizations within the U.S. healthcare system,” he noted.

While the company is focused on reaching caregivers, it is also creating partnerships with healthcare organizations and employers, Vepuri added.

He said the inspiration for the company — and for making medication management easier in general — came from his mother, a physician who started to experience her own health issues.

“[S]he had to work through the challenges of how to be a patient herself, which is what sparked the idea for Hero,” Vepuri said. “She has been a present force and trusted medical and patient consultant throughout the creation of the company.”

When asked what sets Hero apart from competitors in the space, Vepuri said his company “provides an objective, end-to-end, closed loop” and “addresses all the key pain points of the medication management journey for caregivers and their loved ones.”

Photo: Hero